DAVWBZ/WS/TERM2/VII/SOCIAL SCIENCE
4. Define the terms "demand" and "supply"
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Explanation:Demand refers to how much of that product, item, commodity, or service consumers are willing and able to purchase at a particular price. In other words, supply pertains to how much the producers of a product or service are willing to produce and can provide to the market with limited amount of resources available.
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